Core Viewpoint - U.S.-based investor Stonepeak is aiming to raise up to $4 billion for its second Asia-focused infrastructure fund, driven by strong investor interest in the region's infrastructure opportunities [1][2]. Fundraising Details - Stonepeak expects to secure $1 billion, or 25% of its target, by the end of this month, just four months after launching the fund in May [2]. - The firm previously closed its first Asia-focused fund at $3.3 billion, indicating rapid capital deployment and robust investor interest in this asset class [2]. Market Context - Many Asian countries are increasing infrastructure spending to sustain economic growth and living standards amid geopolitical uncertainties and climate change targets [3]. - The Asian Development Bank estimates that developing Asia needs to invest approximately $1.7 trillion annually in infrastructure from 2023 to 2030 to maintain growth momentum, eradicate poverty, and address climate change [4]. Investment Opportunities - Global investors are increasingly targeting sectors such as data centers and logistics, in addition to traditional infrastructure areas [4]. - Stonepeak is focusing on cold storage logistics, driven by changing diets and rising protein demand, highlighting a significant investment opportunity due to rapid urbanization [5]. Competitive Landscape - Other global investors, such as KKR, are also ramping up their fundraising efforts in Asia, with KKR's new fund expected to exceed the $6.4 billion raised for its previous Asia infrastructure fund [6]. - If successful, the fundraising efforts by Stonepeak and KKR could add over $10 billion in deployable capital to the Asia infrastructure sector, which had $30 billion available at the end of last year [6][7].